Home to the burgeoning Chinese and Indian markets, the Asia-Pacific region now dominates global business travel spending, according to the latest findings by the Global Business Travel Association.
Global business travel is largely concentrated in three regions – Asia-Pacific, North America and Western Europe. In total, the three regions accounted for 89 percent of the world’s business spending last year. In 2013, business travel spending in Asia-Pacific accounted for 38 percent of the world’s total, more than the 21 percent for North America and 24 percent for Western Europe, the report found.
Business travel expenditure in Asia-Pacific more than doubled from 2000 to USD$392 billion last year, after growing 7.5 percent annually for more than a decade. The report expects spending to continue growing at a 10.2 percent annual pace over the next five years. Continue reading
Aug. 17 – Seventeen new airports are to be constructed during India’s current 12th Five-Year Plan period, the Minister of State for Civil Aviation, K. C. Venugopal, has informed the Central Government. The 12th Five-Year Plan period runs until 2017.
Included are four airports in Karnataka, three in Maharashtra, two in Kerala and one each in Arunchal Pradesh, Goa, Jharkhand, Madhya Pradesh, Puducherry, Rajasthan, Uttar Pradesh and West Bengal. All 17 airports are listed out below, and an accompanying map can be found to the right. Continue reading
Feb. 15 – The global demand for aircraft is expected to balloon over the next two decades, according to forecasts made by major industry player, Boeing. The U.S. aerospace giant predicts global airlines will require 33,500 new aircraft worth about US$4 trillion by 2030 – 60 percent of which will be to feed market growth.
The Asia-Pacific region is expected to account for some 35 percent of these orders, according to Boeing’s Vice President for Commercial Planes Randy Tinseth. He also said Boeing’s response will include plans to increase production and possibly introduce a larger version of its new 787 Dreamliner. Continue reading
Sept. 30 – China and Russia announced that they would continue their opposition against including civil aviation into the European Union’s (EU’s) Emissions Trading Scheme (ETS) which demands global airlines buy carbon emission permits, according to a joint statement made by China’s Civil Aviation Administration and Russia’s Transport Ministry on Tuesday.
“We oppose any unilateral and coercive decisions that were made without any agreements among the countries concerned… Including international aviation in the EU’s ETS violates the principles of the Chicago Convention and trespasses the sovereignty of other states. And it may bring about extremely negative consequences for the international aviation industry,” read the statement. Continue reading
Jul. 18 – Leading a delegation of officials from China’s central government, Vice President Xi Jinping arrived in the Tibetan capital of Lhasa yesterday to attend the opening ceremony of the region’s first expressway.
With a length of 38.7 kilometers, the new four-lane highway will link Gonggar Airport to downtown Lhasa – reducing the travel time from the airport to downtown Lhasa to just 30 minutes. The construction of the expressway started in April 2009 and was finished earlier this month, 11 months ahead of schedule. Continue reading
Jun. 28 – Asia’s largest low-cost airline, the Malaysian-based AirAsia Berhad is looking to develop more routes to India and China, seeing the opportunities generated from the increasing demand from those fast-growing countries. Its expansion plan in India may bring more competition to IndiGo, India’s domestic airline that operates under a similar low-cost model and currently boasts routes to 25 destinations in the country.
AirAsia plans to use its subsidiary in Bangkok – Thai AirAsia – as a hub for its expansion to India and North China, according to the company’s Chief Executive Officer Tony Fernandes. In order to support the plan, the company’s Thai arm will likely add another 50 aircraft to its current 20-plane fleet. Continue reading
Jun. 7 – Virgin Australia Airlines, the country’s second-largest airline, has just inked a code-sharing deal with Singapore Airlines (SIA) which will provide customers with access to more destinations. With analysts describing it as the worst nightmare of Qantas – Australia’s largest airline – the deal will help Virgin Australia capture the numerous opportunities brought by leisure and business travel demands generated from the Chinese and Indian markets.
The new deal, which is expected to be completed by the end of the year if given regulatory approval, will enable both airlines to code-share on domestic and international flights, opening up over 400 new destinations for customers. Continue reading